The historical data show that the early modern period in Great Britain paved the way to the classical industrial revolution presenting the rst phase of capital accumulation and rise in per capita income. This paper captures the relevant evidence by means of a stylized model describing two...

The Kantian thought had advanced the idea that wars and military expenditure should decrease as long as democracy widens across the World. Historical evidence seems to invalidate this wisdom because frequency of wars is ncreasing over time and a large amount of public resources is still being...

In the II postwar phase of intensive growth, Italian policy makers, controlling banking system, used credit deepening as the leading instrument for policy targets: the industrialization of the country and reduction of regional disparities. This work presents a reconstruction of territorial long...

Investigating on the reasons of British overseas investments (1850-1913) we analyze two different approaches on data and we conclude that they are not different from a stochastic view. Inquiring on ‘push’ approach, we find that exists a negative correlation between GDP and overseas...

The credit system in the growth process of post-World War II Italy has often been dismissed as a waste of money or ancillary to industrialization at best. This paper provides evidence of both an industrialization strategy driven by credit deepening and the beneficial role played by credit...

Unlike recent contributions in the field, which discuss the geography of British overseas investments, this article focuses on the growth of capital exports from Great Britain during the period 1870–1913. Using a broader concept of foreign investments, which includes foreign direct investments...